- US legislators target a new crypto bill before the end of 2025.
- Senators are more aware and educated about Bitcoin and cryptocurrency.
- The Senate committee will distinguish securities from non-investment contract commodities.
Alongside the broad digital asset slump, legislators in the United States have set in motion mechanisms for President Donald Trump’s potential signing of a crypto legislation bill before the end of 2025. The Senate formed a digital assets subcommittee under pro-crypto Senator Cynthia Lummis, assigning it to research bipartisan legislation for digital assets.
In her opening remarks, Senator Lummis introduced the subcommittee to the public, noting key targets and milestones ahead of the bill’s possible passage this year. She cited the aim of supporting innovation while protecting consumers.
Senate Gathers Momentum on Crypto
In the meantime, Senator Lummis highlighted the progress made by senators, many of whom have become more aware and better educated about Bitcoin and cryptocurrency over the past four years.
The Senator acknowledged the ability of most senators to distinguish between the various categories of cryptocurrencies and understand most of the key regulatory terminologies used in the crypto industry.
Related: Senator Hagerty’s GENIUS Act Aims to Pass Stablecoin Bill in 100 Days
Meanwhile, Ms. Lummis noted that legislators are on the verge of creating a Bipartisan Legislative Framework for stablecoins and market structure. She highlighted the subcommittee’s willingness to achieve its goals on time by passing both bills for President Trump’s signature before the end of 2025.
Focus on Stablecoins and Market Structure
According to Senator Lummis, the subcommittee will begin its assignment by focusing on stablecoins. She is optimistic that the Senate committee will soon act on the Genius Act, which she co-sponsored with other senators. The Act aims to make the US dollar fit for the digital age. She explained that the Act will create additional demand for US debt and make payments faster and cheaper.
Related: Cynthia Lummis Heads Senate’s New Crypto-Focused Subcommittee
Lummis clarified that part of the subcommittee’s job is to distinguish securities from non-investment contract commodities. The group also plans a clear route for digital exchanges to register with the Commodity Futures Trading Commission (CFTC). Lummis pointed out that the crypto industry needs firm rules to foster responsible innovation and guard users.
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